What is polygon crypto?

Polygon (previously Matic Network) is an Ethereum scaling solution that provides faster and cheaper transactions. It is a Layer 2 scaling solution built on top of the Ethereum blockchain and enables developers to build and deploy decentralized applications (dApps). It uses a Proof-of-Stake (PoS) consensus mechanism which reduces the cost and time of validating transactions. Polygon offers various tools such as Polygon SDK, Polygon Bridge, and Polygon Explorer to streamline the development process. Polygon crypto is the native cryptocurrency of the Polygon network and is used as a medium of exchange for fees and rewards on the platform. It has a current market cap of over $8 billion and is ranked within the top 20 cryptocurrencies by market capitalization.